The recent back-and-forth debate over pensions for public employees always lands on important issues like employer contributions and discount rates. Lost in the discord, though, is what’s ultimately at stake: the financial future of millions of Americans. So let's get to the point and not fall into the tired trap of looking back: It's time to put SB 400, the 1999 California legislation that changed benefits for public workers, behind us.
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A bill that would have authorized the California Public Employees’ Retirement System to adjust the current $2,000 post-retirement death benefit for state and school retirees was vetoed by Gov. Jerry Brown on Sept. 26.
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Music was his life, so it is fitting that the celebration of life for Gus C. Lease will be in the Music Building Concert Hall at San Jose State University at 1 p.m. Oct. 1. A reception will follow on the lawn between the Music Building and the SJSU Event Center.
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Health Plan Open Enrollment for CalPERS members is Sept. 12- Oct. 7. Most members who are satisfied with their current plan need do nothing to remain in the same plan. The exception is Blue Cross Net Value members. That plan is being discontinued.
If members on that plan do nothing, they will automatically be transitioned to Blue Shield Access Plus, starting Jan. 1, 2017. Or they may choose another health plan during this Open Enrollment period.
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Assemblyman Rob Bonta, D-Alameda, calls on lawmakers to approve his measure to end surprise medical bills from out-of-network doctors, on the final day of the legislative session.
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Longtime CSR and CSEA activist Gus C. Lease, also known by many as “The Voice of CSEA,” passed away Sept. 4 at the age of 93.
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Sacramento, CA – The CalPERS health plan Open Enrollment period begins soon – September 12 through October 7 – but Open Enrollment materials are now available online to our members to help them select the best plan for their families.
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Barbara LaPlante, the first female president of California State Retirees, Inc., passed away Aug. 14. She was 89.
LaPlante also had the distinction of holding the position of president – formerly known as director – for more than 10 years, longer than any previous member of California State Retirees, Inc., which is now known as California State Retirees. She also held many other positions in the organization, including regional director.
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Sacramento, Calif. – California State Retirees (CSR) believes CalPERS erred in calculating the 2017 100/90 State Annuit
ant employer contribution amount.
Government Code section 22871 requires using the current year's top four health care plans to establish the next year's state contribution amount.
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Sacramento, Calif. – Rob Feckner, president of the California Public Employees’ Retirement System (CalPERS) board of administration, penned an op-ed in today’s issue of The Sacramento Bee highlighting the importance of their long-term investment vision.
The op-ed comes after adverse news coverage of CalPERS’ decision to implement a new risk-reduction strategy. The plan, passed by a 4-3 vote, lowers the discount rate during strong years of investment returns. According to Feckner, this conservative approach will lower risk and volatility in the system. The goal is to ultimately reduce the rate from 7.5 percent to 6.5 percent over a 20-year period.
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